At the ongoing 42nd Reliance India Limited Annual General Meeting, Chairman and Managing Director Mukesh Ambani said that Jio managed now has over 340 million subscribers. This now makes Jio the biggest network in the country in terms of subscribers, revenue as well as profits. Jio is also now the second biggest network in the world.
Ambani further said that the telco is adding 10 million new users every month. At this rate, the numbers could hit a target of 500 million customers very soon. Ambani also said that Jio was now the second-largest operator in the world in a single country.
While there were no details whether 5G connectivity would be rolled out anytime soon, but the Ambani did say that since Jio currently runs on the faster LTE+ network, it will be easier to update to next-gen 5G network at minimal incremental costs.
Just last month it was reported that Reliance Jio had overtaken Vodafone-Idea to officially become India's leading telecom operator. The news came from data collated off the quarterly financial reports furbished by Bharti Airtel, Reliance Jio and Vodafone-Idea, India's three leading telecom operators.
In May 2019, Bharti Airtel disclosed through TRAI its user base of 320.4 million users, while enduring a rough quarter of high subscriber churn rate (subscribers unsubscribing from the network against new subscriptions). In contrast, Jio's recently disclosed Q1 FY20 financial report showed 331.3 million subscribers in its network.
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